Straumur has appointed Peter Serlachius as head of Straumur Capital Management (SCM), a new business initiative at Straumur. Peter will commence work on the 15th of May and will be based in Stockholm.

Straumur Capital Management hf., an Icelandic Fund Management company, is currently being established as a wholly owned subsidiary of Straumur and as one part of SCM.

Straumur has, during its business life, built considerable trading and risk management expertise through the bank’s successful proprietary trading activities.  Further investments in infrastructure have expanded the bank’s capabilities significantly, balancing risk taking with appropriate oversight and control.  Leveraging this experience and investment, SCM will act as an incubator and service provider to various new hedge funds. SCM will offer an attractive partnership to experienced fund managers.  As a part of Straumur’s Merchant Banking activities, the Bank will invest directly in the SCM funds, while creating a venue for clients and investors to participate in various investment opportunities arising from Straumur’s footprint in Northern and Central Europe. 

Says Skúli Valberg Ólafsson, Straumur’s Chief Administrative Officer, “We are extremely pleased to have Peter Serlachius on board to lead this new project. Various undertakings within the SCM funds will complement Straumur‘s Investment Banking activities and provide an additional growth engine for the Bank. SCM is an addition to Straumur‘s existing asset management businesses.”

In addition to providing independent services such as sales and marketing, fund raising, reporting, and risk management services, SCM will utilize Straumur‘s existing infrastructure and systems to provide fund managers with operational and administrative services. SCM is already in the process of launching its first funds.